Green Plains Renewable Energy Inc (GPRE)

Number of days of payables

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Payables turnover		16.63	24.18	33.22	27.83	15.04	27.61	24.93	27.17	17.97	21.27	20.47	20.30	14.70	25.41	26.84	31.33	15.16	18.52	16.47	8.47
Number of days of payables	days	21.95	15.09	10.99	13.12	24.26	13.22	14.64	13.43	20.31	17.16	17.83	17.98	24.83	14.36	13.60	11.65	24.08	19.71	22.16	43.11

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 16.63
= 21.95

To analyze Green Plains Inc's number of days of payables, we observe a fluctuating trend over the past eight quarters. The company's payables turnover period has ranged from a low of 10.99 days in Q2 2023 to a high of 24.26 days in Q4 2022. This indicates variation in the time taken by the company to settle its payables to suppliers.

It is noteworthy that there was a significant increase in the number of days of payables in Q4 2022 compared to the subsequent quarters, reflecting a possible delay in payment processing during that period. However, the most recent quarter, Q4 2023, shows a decrease in the payables turnover period to 21.95 days, suggesting an improvement in the efficiency of managing payables.

Overall, a decreasing trend in the number of days of payables may reflect a more effective management of trade credit and better cash flow management. However, it is essential to monitor this ratio closely to ensure that payment terms are maintained at levels favorable for the company while fostering good relationships with suppliers.